Port Covington Development to Rebrand Soon
The Port Covington Development, a mixed-use project in the Port Covington neighborhood, will rebrand “soon,” according to MAG Partners CEO Maryanne Gilmartin. This was first reported by Baltimore Business Journal and Baltimore Fishbowl.
The project is currently nearing completion on Chapter 1B which is adding 1.1 million sq. ft. of new buildings to the 177-acre site.
Gilmartin said in an email to SouthBMore.com: “Soon we’ll rebrand the project completely. It’ll be a rename and a relaunch, a new website, new collateral materials, and a story that hooks you, a story that resonates and a story that creates possibilities, not just for Port Covington, but for all of Baltimore. The new name will encapsulate Baltimore’s true essence, and most importantly reflect the wants and needs of the South Baltimore community.”
The Port Covington Development first released its master plan in 2016. The Port Covington Development Team is owned by Kevin Plank’s Sagamore Ventures and Goldman Sachs Urban Investment Group. MAG Partners and MacFarlane Partners became the new lead developers and investors in the project earlier this year. They are taking over for Weller Development which is completing the current phase of construction on the project.
The master plan for The Port Covington Development includes 14 million sq. ft. of mixed-use development and 40 acres of open space across 45 new city blocks.
The Port Covington Development is not the only development or property owner in Port Covington. Under Armour is currently building a new campus on a 50-acre parcel; 28 Walker is planning 809 housing units on a 25-acre parcel which was previously Locke Insulators; and the 135,000 sq. ft. City Garage Science & Technology Center is owned by South Duvall. Other parcels include Downtown Dog Resort & Spa, Republic Services, and Carroll Motor Fuels.
There are currently five buildings and a park under construction in The Port Covington Development that are scheduled to begin delivering between late-2022 and early-2023. This development phase will have 440,000 sq. ft. of office; 586,000 sq. ft. of residential from 537 total housing units which break down as 367 market-rate residential dwelling units, 89 affordable dwelling units (ADU), and 81 extended-stay units; 116,000 sq. ft. of retail; more than 1,000 parking spaces; and 10 acres of parks and public space.
Recent news at the Port Covington Development include two new leases with Chambers and CFG Bank. These leases put the current office space footprint under construction at almost 25 percent leased.
Gilmartin told SouthMore.com: “We expect to have a number of leases to announce in the coming months as we move closer to construction completion for the first phase of the project.”
The Baltimore Sun will also be leaving its Sun Park building which is 256,033 sq. ft. on 18.9 acres. This property is owned by The Port Covington Development Team and is being “actively marketed to potential tenants,” according to Gilmartin.
Renderings courtesy of the Port Covington Development Team (click to enlarge)
About the Author: Kevin Lynch
Founder and Publisher of SouthBmore.com, longtime resident of South Baltimore, and a graduate of Towson University. Diehard Ravens and O's fan, father of three, amateur pizza chef, skateboarder, and "bar food" foodie. Email me at Kevin@InceptMM.com and follow me on Twitter at @SoBoKevin.
